Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 15.10

  (1)   You import goods for a creditable purpose to the extent that you import the goods in * carrying on your * enterprise.

  (2)   However, you do not import the goods for a creditable purpose to the extent that:

  (a)   the importation relates to making supplies that would be * input taxed; or

  (b)   the importation is of a private or domestic nature.

  (3)   An importation is not treated, for the purposes of paragraph   (2)(a), as relating to making supplies that would be * input taxed to the extent that the supply is made through an * enterprise, or a part of an enterprise, that you * carry on outside the indirect tax zone.

  (4)   An importation is not treated, for the purposes of paragraph   (2)(a), as relating to making supplies that would be * input taxed if:

  (a)   the only reason it would (apart from this subsection) be so treated is because it relates to making * financial supplies; and

  (b)   you do not * exceed the financial acquisitions threshold.

  (5)   An importation is not treated, for the purposes of paragraph   (2)(a), as relating to making supplies that would be * input taxed to the extent that:

  (a)   the importation relates to making a * financial supply consisting of a borrowing; and

  (b)   the borrowing relates to you making supplies that are not input taxed.